With low exchange fees. Okx Competition … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. When participating in staking or saving functions, it likewise provides exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance issues.
You can produce an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you use in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary based on trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may receive discounts. Swaps, choices, and futures have their own rate schedules with varying costs.
One huge disadvantage of is that it doesn’t reveal costs for withdrawals and deposits. While much of is transparent, hidden expense details are a warning that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check transaction information before proceeding. If you accidentally send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you don’t normally confront with traditional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are comparable. These consist of utilizing strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many customer possessions. It also has offers extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to purchase apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re offering our position which we wish to take profit at this level what we wish to do is find the difference in between these values which’s going to offer us.057 then we’re going to take the dollar quantity threat we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Competition
distinction in between the stop and the entry okay and that’s going to give us the amount of tokens that we need to purchase in order to risk only ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar amount fine so that implies that in order to find the capital requirement or the quantity of cash that we need for this trade we need to take the amount of coins and multiply it by the entry cost which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter into this position when we’re using take advantage of the only thing it’s changing is just how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have ten thousand dollars to use fine due to the fact that if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account which makes it difficult alright so let’s visit buy bit here let’s state we wish to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what occurs when we open up our take advantage of fine and you’re gon na get this caution that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this leverage ability is altering absolutely nothing about the danger profile on the trade okay if you plan on trading anyways utilize the referral Link in the description alright weekly we do a free gift where anybody trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars per week we’re picking 3 winners a week okay we’re trying to give the charges that we’re collecting from the affiliate program back into the community for you people trading with us connect is listed below you can check out our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would recommend utilizing when growing a small account fine so the very first guideline is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat okay each time you double the account so when you go to 100 as much as 200 okay you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there till we scale our account up a bit bigger the 3rd thing and this is super important is everyone has a psychological limit when it concerns just how much cash they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the mathematics states you’re going to start feeling a little bit emotional about the trades which’s something that you truly wish to avoid up until you come comfy doing that okay so state you work your method up to 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can walk that pull back to fifty dollars per trade choice that repaired amount when you wish to preserve your capital and just choose an objective per day on
the cash that you want to make when you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that three to five thousand dollars each week so I’m using you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings fine so let’s enter into the bread and butter of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai okay but what I want to do is discover a location where I have actually a freshly developed uptrend first thing that I want to do is determine my wave count okay so if this is our beginning
very first pullback is 2 largest waves up to 3 pullback is four and after that the high is five and the way we can search for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that find my factor of one and you can see the cost action sort of Consolidated right along this level if we take a Fibonacci retracement off of this level and go up to the high of one if our price action boils down through